Northern Trust data: Canadian pension plans post 4.4% return for 2025
March 11, 2026
Canadian pension plans delivered modest results in the fourth quarter of 2025, reflecting a period of market volatility and evolving economic conditions, according to the latest data from the Northern Trust Canada Universe.
The Northern Trust Canada Universe, which tracks the performance of Canadian institutional defined benefit pension plans that participate in Northern Trust’s performance measurement services, reported a median return of 0.2% for the fourth quarter and an annual return of 4.4%.
Other highlights from the report include:
- Canadian equities earned 6.2% in the fourth quarter and delivered a strong 31.7% return for the year, as measured by the S&P/TSX Composite Index.
- Global equity markets posted gains for the fourth quarter, with several major indices closing the year with double?digit returns.
- Canadian bonds experienced a modest decline in the fourth quarter as the yield curve steepened but generated a positive annual return.
Commenting on the results, Northern Trust Canada noted that diversification continues to play a key role in supporting pension plan resilience during periods of heightened volatility due to evolving global economic and geopolitical environment.
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